COSTS,

in discretion of court, in action without presentment, 307, 427

of protest part of liquidated damages, 324

of protests in different provinces, 441-2

CO-SURETIES, when accommodation indorsers are, 317.
COUNTER-CLAIM, defined, 24

compared to incidental demand, 25
included in action in the Act, 23
defence in the Act, 30
COUNTERMAND of payment of bill, 294
cheque, 404

stops payment of cheque if not accepted, 404

COUNTRY, use of word as to Canada, 379, 381

conflict of laws where bill concerns more than one, 380

COUPONS, See Bonds or Debentures

are negotiable, 455-6

no days of grace, 456

dishonored, bear interest, 457

COURT has discretion as to costs when, 307, 427
CREDIT, letter of, not negotiable, 459
CROSS or mark, a sufficient signature, 40
CROSSED CHEQUES, 405-412 see Cheque
CURRENCY, meaning of, 41

bills and notes payable in, 42-5
rule for calculating foreign, 390

bank notes and Dominion notes are, 418

CURRENT RATE of exchange for bill dishonored abroad, 327
for foreign bill dishonored in Canada
390

CUSTOM, See Usage

basis of law merchant, 451
local must be proved, 452
general judicially established, 452

may determine negotiability of instrument 457
CUSTOMER, duty of bank to pay cheques of, 403
bank liable to, for improper refusal, 404

notice of death of, stops payment of cheque, 401
bank may pay bills of, made payable there, 404

DAMAGES, drawee liable for breach of agreement to accept, 104-5

measure of, on dishonored bill, 324

interest as, for non-payment at maturity, 325

DAMAGES-Continued,

further, on bill dishonored abroad, 326

which holder may recover, 324

which drawer or indorser may recover, 324

bank liable for improper refusal to pay cheque, 404
DATE, bill irregular but not invalid for want of, 50, 86
bill payable" with interest," runs from, 79

bill payable at fixed period after, 82

may be inserted in undated bill or acceptance, 85
insertion of wrong, does not invalidate bill, 86
computation of time when bill payable after, 93.5
presumed to be true date, 87-8, 230
presumption as to undated acceptance, 86
indorsement, 230
bill dated on Sunday or holiday valid, 88
antedated or postdated bill or cheque valid, 88, 396
alteration of, material, 363

of protest, delay runs from, on acceptance for honor, 368
protest may be extended as of date of noting, 438
from which prescription runs, 346-9

of acceptance after previous refusal to accept, 106

DAYS, time less than three, holidays excluded, 438
drawer has two, to decide as to acceptance, 250
of grace, not allowed on demand bills, 81, 90

rule in United States, 91
origin of, 95

determined by place of payment, 91, 390, 392

DEATH, revokes authority to complete bill not given for value, 118-9
if payee dead, bill payable to bearer, 63
presentment for acceptance where drawee dead, 248-9

for payment where drawee or acceptor dead, 262
notice of dishonor where drawer or indorser dead, 280
of drawer of cheque stops payment, 401-5

of holder, rights pass to personal representative, 209
DEBENTURES-See Bonds or Debentures
DEBT, antecedent, is consideration for a bill, 166, 168
DEFECT OF TITLE, holder taking without notice of, 186
what is, 190-6, 226

DEFENCE, in Act includes counter claim, 30

total failure of consideration a good, 176
partial failure may be good, pro tanto, 178
in action on "patent" note, 203

DEFENCE-Continued.

where plaintiff is not the owner, 233
to action by holder in due course, 235

DEFINITION, of words used in the Act, 22-31

of a bill of exchange, 33

of an inland bill, 52

of a foreign bill, 52

of a cheque, 395

of a promissory note, 413

See Words and Phrases

DELAY, caused by presentment excused, 243

in making presentment excused, 263-4, 371
for sending notice of dishonor, 282-9

in sending notice of dishonor excused, 290-2
in noting or protesting when excused, 305
when delay ceases, diligence required, 264,305

DELIVERY, definition of, 27

of bill necessary to complete contract, 119-121
requisites as to, 121

by whom it must be made, 121

possession creates presumption of, 121
conditional, or as an escrow, 122-3

bill payable to bearer negotiated by, 207
negotiation by indorsement completed by, 208
for value without indorsement, 209
person paying bill entitled to, 309
transferrer by, defined, 327

liability of, 328

what he warrants, 329-330
to acceptor at or after maturity, discharges bill, 352
to payee or bearer necessary to complete note, 421

DEMAND, bill or note payable on, 33, 413, 425

when a bill is payable on,

80

overdue bill accepted or indorsed is payable on, 82
when deemed overdue, 229

when prescription begins to run, 343-4

when interest begins to run, 233-4

liability of indorser of note payable on, 424

no days of grace on bill payable on, 424

when bill payable on, should be presented, 255-6

DEMAND-Continued.

note payable on, may be continuing security, 424

when it should be presented, 424-6
when deerned to be overdue, 426
when "at maturity,” 426

cheque is bill payable on, drawn on bank, 395
DEPOSIT RECEIPTS, negotiable, 458

DETENTION, of bill by drawee, 251, 304

DETERMINABLE FUTURE TIME, 33, 82, 90, 413

DILIGENCE, REASONABLE, in attempting to present for accept-

ance, 249

in attempting to present for payment, 257

in attempting to present where drawee or acceptor dead, 262

in noting or protesting bill, 3C5

DIRECTORS, when personally liable on bill or note, 132-3, 159-164, 431
DISCHARGE, of bill by payment, 331-351

merger, 333

novation, 333

compensation or set-off, 339

prescription or Statute of Limitations, 341-9

confusion, 352

by cancellation, 359
material alteration, 361

of accommodation bill, 351

of party liable, by waiver, 353-5

of surety, by dealing with principal, 355

at place of contract, 380, 391

of one part of a bill in set, 378

DISCOUNT OF BILL, 181-3

entitles discounter to collaterals, 182
discounter holder for full value, 183

DISCRETION OF COURT, as to costs on premature action, 307, 427

DISCREPANCY between figures and words, 78

DISHONOR, case of need in event of, 97

acceptance after, 106

after notice of, holder takes subject to defects, 186, 230

by non-acceptance, 249, 251

after two days, 250

recourse for, 251

unless acceptance unqualified, 253

DISHONOR-Continued.

by non-payment, 268

recourse for, 269

notice to drawer and indorsers on, 270

drawer and in lorsers discharged unless notice of, 270

want of notice of non-acceptance, 272
notice of non-acceptance, and non-payment, 273
rules as to giving notice of, 273. See Notice

of inland bill, 297

of foreign bill, 299

note, 432

of bill by acceptor supra protest, 371

DISPENSING with presentment for acceptance, 249

payment, 264-8
notice of dishonor, 232-6
protest, 305

DISSENT, by drawer or indorser to qualified acceptance, 254
DIVIDEND WARRANTS, crossed cheque provisions apply to, 444

are negotiable, 445

DOMINION NOTES, 418, 454

DONATIO MORTIS CAUSA, cheque given as, 171, 405

DRAFT, bill frequently called, 34

DRAWEE, is person to whom bill is addressed, 33, 39

instrument not a bill if not addressed to, 39

bill may be drawn payable to order of, 55
fictitious, or same person as drawer, 56-8
must be named or clearly indicated, 58
there may be two or more, 59

not be alternate or successive, 59
by assent to bill becomes the acceptor, 99
assent must be written on bill and signed by, 102
promise of, must be payment in money, 102
wrongly designated or name misspelt, 105
may accept incomplete or overdue bill, 106
bill after dishonor, 106
qualified acceptance by some, not all, 109, 114
delivery or notice of acceptance binds, 119
paying cheque on forged indorsement, 146
presentment to all, when more than one, 247
if dead, presentment to representative, 248, 262
for acceptance excused, 249

if fictitious, presentment excused, 249
not accepting not liable on bill, 310
accepting parts of set, liable on each, 378